Redoubling Efforts to Support American Manufacturing
I just returned from the White House Business Council American Economic Competitiveness Forum on Manufacturing, where I had an opportunity to hear from a group of American manufacturers—representing businesses of all sizes from across the country—about how the Obama Administration can continue to support them as they build things here and sell them everywhere. As we have seen in recent months, manufacturing is one of the bright spots for our economy. Over the past two and a half years, more than half-a-million manufacturing jobs have been created in the U.S. – the strongest job growth in that sector since the 1990s. In fact, just last month, an additional 25,000 new manufacturing jobs were added.
In terms of production, manufacturing output is up 20 percent since 2009, and increased again in July. One manufacturing sector that has been consistently strong is the motor vehicles and parts industry, which has added 165,000 jobs since June 2009— a sector that might not even exist in the U.S. today if not for the assistance this Administration gave to the U.S. auto industry in 2009.
This matters because we know that manufacturing jobs are good jobs that pay more than average and provide greater benefits. They strengthen economic security for middle class families.